Shares of Intuit (INTU), the financial software company behind TurboTax and QuickBooks, surged 5.30% in pre-market trading on Friday following the release of better-than-expected fiscal first-quarter results and optimistic growth forecasts driven by artificial intelligence (AI) initiatives.

The company reported first-quarter revenue of $3.89 billion, surpassing analyst estimates of $3.76 billion. Adjusted earnings per share came in at $3.34, beating expectations of $3.09. Intuit's strong performance was attributed to robust demand from mid-size businesses and the company's growing AI capabilities.

Looking ahead, Intuit projects second-quarter revenue growth of 14% to 15%, reflecting confidence in its AI-driven strategy. The company's focus on integrating generative AI into its products has garnered positive attention from analysts, with RBC Capital Markets highlighting it as a "major opportunity" for Intuit. This technological edge, combined with Intuit's market leadership and potential for margin expansion, has reinforced investor confidence in the company's long-term prospects.

Adding to the positive sentiment, Intuit announced a multi-year partnership with Team USA and the LA28 Olympic and Paralympic Games, further enhancing its brand visibility and market position. As Intuit continues to leverage AI and expand its market reach, investors appear optimistic about the company's growth trajectory in the evolving financial technology landscape.